{"id":12898,"date":"2023-12-29T11:59:02","date_gmt":"2023-12-29T11:59:02","guid":{"rendered":"https:\/\/ricenewstoday.com\/?p=12898"},"modified":"2023-12-29T11:59:04","modified_gmt":"2023-12-29T11:59:04","slug":"asia-rice-thai-rates-soar-to-15-year-highs-as-india-looks-on-from-two-month-peakv","status":"publish","type":"post","link":"https:\/\/ricenewstoday.com\/dev\/asia-rice-thai-rates-soar-to-15-year-highs-as-india-looks-on-from-two-month-peakv\/","title":{"rendered":"ASIA RICE-Thai rates soar to 15-year highs as India looks on from two-month peakv"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Credit: REUTERS\/Nguyen Huy Kham<\/p>\n\n\n\n

By Anjana Anil<\/p>\n\n\n\n

Dec 28 (Reuters) – Prices of rice exported from some Asian hubs climbed on Thursday, as supply constraints drove Thai rates to over fifteen-year highs, while prices for India’s parboiled variety trailed behind at a two-month peak.<\/p>\n\n\n\n

Thailand’s 5% broken rice prices RI-THBKN5-P1 were quoted at $655-$660 per metric ton, its highest since early October, 2008, versus last week’s $646-$650.<\/p>\n\n\n\n

Prices of the Thai variety are also set to log their biggest ever yearly gain since LSEG data going back to early 2000’s, up around 41% for the year so far.<\/p>\n\n\n\n

Traders attributed the price increases to new demand from overseas, particularly Indonesia and the Philippines, as supply has become short ahead of the New Year holiday.<\/p>\n\n\n\n

India’s parboiled rice exports prices extended gains this week to their highest level since October, on limited supplies and tracking gains in prices offered by other competing countries.<\/p>\n\n\n\n

“White rice prices have been rallying in the past few weeks, which is making parboiled varieties attractive for price-sensitive consumers,” said a Mumbai-based exporter.<\/p>\n\n\n\n

India’s 5% broken parboiled variety RI-INBKN5-P1 was quoted at $508 to $515 per metric ton, from last week\u2019s $505-$512, and looked set for its biggest annual rise since 2004.<\/p>\n\n\n\n

India’s rice output is expected to drop this year for the first time in eight, raising the prospect that New Delhi will extend curbs on exports of the grain to keep a lid on food prices ahead of elections.<\/p>\n\n\n\n

Vietnam’s 5% broken rice RI-VNBKN5-P1 was offered at $653 per metric ton, down from last week’s $660-$665. It is also set to log highest yearly gains at 44% so far.<\/p>\n\n\n\n

“Prices edged down slightly this week as the market in general is tepid now, with traders awaiting new supplies from the Winter-Spring crop,” said a trader based in the Mekong Delta, Vietnam’s rice bowl.<\/p>\n\n\n\n

“Looking forward to the first half of 2024, Philippines, China and Indonesia will remain Vietnam rice’s top destinations, while exports to Ghana, Egypt may be slightly lower,” the trader added.<\/p>\n\n\n\n

(Reporting by Anjana Anil in Bengaluru, Rajendra Jadhav in Mumbai, Phuong Nguyen in Hanoi, Panu Wongcha-um in Bangkok, editing by Alexandra Hudson)<\/p>\n","protected":false},"excerpt":{"rendered":"

Credit: REUTERS\/Nguyen Huy Kham By Anjana Anil Dec 28 (Reuters) – Prices of rice exported from some Asian hubs climbed on Thursday, as supply constraints drove Thai rates to over fifteen-year highs, while prices for India’s parboiled variety trailed behind at a two-month peak. Thailand’s 5% broken rice prices RI-THBKN5-P1 were quoted at $655-$660 per metric ton, its highest […]<\/p>\n","protected":false},"author":1,"featured_media":12899,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176],"tags":[393,46,166,167,159],"class_list":["post-12898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-rice-prices","tag-asian-rice","tag-thai-rice","tag-indian-rice","tag-global-rice-news"],"acf":{"enable_premium_overlay":false},"yoast_head":"\nASIA RICE-Thai rates soar to 15-year highs as India looks on from two-month peakv - Rice News Today<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASIA RICE-Thai rates soar to 15-year highs as India looks on from two-month peakv - Rice News Today\" \/>\n<meta property=\"og:description\" content=\"Credit: REUTERS\/Nguyen Huy Kham By Anjana Anil Dec 28 (Reuters) – Prices of rice exported from some Asian hubs climbed on Thursday, as supply constraints drove Thai rates to over fifteen-year highs, while prices for India’s parboiled variety trailed behind at a two-month peak. 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